EUROe — the first legal cryptocurrency was launched in Europe
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The Finnish company Membrane Finance has released a fully licensed stablecoin backed by the euro. Cointelegraph writes about this.
Photo: happycoin.club 3
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What is known
The company has a license from the Financial Supervisory Authority of Finland (Fin-FSA) and claims that “EUROe” is “the first and only cryptocurrency regulated by the EU”.
The US-based company Circle Inc. previously also released its own euro-backed stablecoin in June, but its EUROC was initially stored at Silvergate Bank, a US-regulated institution.
Membrane Finance is excited to announce the launch of EUROe on Ethereum! Read more at and read the thread below to see how you can get started with $EUROe from today!
— EUROe (@EUROemoney) February 2, 2023
According to the Finnish company’s announcement, each EUROe token is backed by “at least one fiat euro in a European financial institution or bank.”
The company believes that this will allow almost instant payments with almost zero cost, in contrast to the high commission and low speed of traditional finance.
CEO of Membrane Finance Juha Vytala expressed the hope that EUROe will encourage more Europeans to use decentralized finance (DeFi) applications:
“Stablecoins are an integral part of the transition to a blockchain-based monetary infrastructure, and Europeans deserve to have a Eurostablecoin regulated by the EU financial authority. We hope that EUROe will attract more ordinary people to DeFi, who could not do it before or were worried about the volatility of cryptocurrencies,” he noted.
Source: Ministry of Finance
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